Hyperliquid STRK Contract Drops 13% as Largest Long Shows $1 Million Paper Loss

On Oct. 17, Hyperliquid’s STRK contract was quoted at about $0.0665, roughly 13% below the previous day’s reference price, while its largest STRK long showed an unrealized loss of about $1.019 million.

That position held about 64.2 million STRK, worth roughly $4.25 million, using five-times cross margin leverage. Its reported return was about negative 96%.

Separately, another address had 21.36 million STRK forcibly liquidated, valued at about $1.466 million. The liquidation realized a loss of about $207,000.

Afterward, the same address opened a new long of about 4.79 million STRK, worth about $319,000, using five-times isolated margin leverage. The new position's liquidation price was about $0.059.